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Agreement in Principle Made to Settle Majority of Zyprexa' Litigations
Eli Lilly and Company announced on June 9 that it had agreed in principle to a settlement with most of the plaintiffs involved in the Zyprexa liability litigation. Eli Lilly, an Indiana company, expects to take a pretax charge of at lease $700 million in the second quarter of 2005 to cover the settlement costs.
The majority of the plaintiffs in the Zyprexa litigation asserted they had developed diabetes as a result of their use of Zyprexa to treat schizophrenia, acute mixed and manic episodes of bipolar I disorder and maintenance treatment of bipolar disorder. Zyprexa has been prescribed to more than 17 million people worldwide.
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